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Malay Mail
22-05-2025
- Business
- Malay Mail
Pendrive pioneer KS Pua's startup eyes IPO by 2028 to keep Malaysian talent at home
PUTRAJAYA, May 22 — Tech innovator Datuk Pua Khein Seng said today that his local startup, MaiStorage Technology Sdn Bhd, is slated for an initial public offering (IPO) by 2028, as part of efforts to retain trained Malaysian talent and reverse the country's brain drain. Pua, widely credited with inventing the first single-chip USB flash drive, said the IPO's top priority is to offer shareholding opportunities to employees and other stakeholders. 'If I can train these engineers, are they going to stay in their homeland? 'Unfortunately, most engineers when they mature, they leave. So how do we retain them? The only way is by IPO,' he said in his speech during the official launch of MaiStorage at Le Meridien Putrajaya here. Since beginning operations in August last year, Pua said MaiStorage has made significant progress in establishing its base in Malaysia. To date, the company has hired and trained 60 young integrated circuit (IC) design engineers, and achieved break-even profitability in under a year of operations. MORE TO COME
Malay Mail
22-05-2025
- Business
- Malay Mail
Malaysia takes a leap in AI and IC design as PM Anwar backs pendrive pioneer KS Pua's new venture
PUTRAJAYA, May 22 — Prime Minister Datuk Seri Anwar Ibrahim today officially launched a venture founded by technologist Datuk Pua Khein Seng, praising it as a great leap for Malaysia in the field of Artificial Intelligence (AI) and the global integrated circuit (IC) design industry. Speaking at the official launch of MaiStorage Technology Sdn Bhd, Anwar said the venture would allow Malaysia to demonstrate its commitment to digital transformation — one of the regional bloc's future priorities — during the 46th Asean Summit this weekend. 'Today's launching definitely relates to what we will be addressing this weekend when we meet Asean leaders. 'Surely with this launch, we can showcase not just mere platitudes and pronouncements,' he said in his speech at Le Meridien Putrajaya here. Widely regarded as 'the father of USB drives,' Pua is both the founder and chief executive of MaiStorage. MaiStorage — a subsidiary of Taiwan-based Phison Electronics Corporation — is currently spearheading efforts to push Malaysia towards the generative AI era and position the country as a potential powerhouse in the global integrated circuit (IC) design industry. The venture, which included a technology transfer worth over RM1 billion, was previously one of the major highlights of the KL20 Summit held last year. MORE TO COME
